The US dollar slumped as President Trump’s tariff announcement sent shockwaves through global markets. With a 10% baseline tariff on imports, fears of a global economic slowdown intensified. Investors sought safe havens as stock markets and currencies faltered.
The US dollar slid while the euro firmed after President Donald Trump announced harsh new tariffs on imports, sending shockwaves through global markets. The 10% baseline tariff, with higher levies on key trading partners, is set to take effect on April 9, impacting around 60 countries.
The move escalates trade tensions, fuelling fears of a global economic slowdown. Investors scrambled for safe-haven assets, boosting the yen and Swiss franc, while US Treasury yields plunged. Stock markets also suffered as concerns over inflation and retaliatory measures grew.
European Commission President Ursula von der Leyen warned of potential countermeasures if diplomatic talks with Washington fail. Meanwhile, the euro strengthened, while the British pound surged to a five-month high. In contrast, Asian currencies weakened, with China’s yuan hitting a two-month low.
Market analysts caution that prolonged trade disruptions could weigh heavily on the US economy, increasing the likelihood of recession. However, some experts suggest Trump’s aggressive stance may be a negotiation tactic rather than a long-term economic strategy. As global markets remain on edge, investors await further developments that could determine the course of the unfolding trade conflict.
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President Donald Trump said NATO is making a “very foolish mistake” by refusing to help the U.S. as Israel Katz claimed Ali Larijani was killed in Israeli strikes.
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Hungarian Prime Minister Viktor Orbán has refused to lift his opposition to a €90 billion ($104 billion) European Union loan to help Ukraine keep up its fight against Russia’s invasion, following a meeting of EU leaders in Brussels on Thursday (19 March).
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